Watching AMD for a Small Bounce to the Upside

AMD is naturally pulling back after price was rejected by key daily resistance - up on the curve ;) - coming to a zone of interest. I'll be watching price as it enters the zone and will take a small trade under the right price actions. Here's my plan for this trade:

- Wait until price enters the zone
- Go down to 5m or 3m chart and keep watching
- Look for signals of buyers stepping in: little uptrend forming
- If the uptrend forms and it is constant put a stop buy order @92.78
- First target 50% of the shares at 1:1
- Second target at 5:1
- Move stop loss to 2:1 after price hits 3:1
- Move stop loss to 3:1 after price hits 4:1
- If price shows weakness just exit the trade at 2 or 3:1

My entry and stop marks are according to the Long Position Tool on the chart

Zlecenie aktywne:

I couldn't watch the trade, so I placed the order limit entry. Price hit my stop once but I took the trade one more time after price started showing strength to the up side. At the moment I am almost breaking even with the stop loss hit the first time.